Life Insurance : About 40000 or about 80 percent employees of National Insurance Company Limited The New India Assurance Company Limited The Oriental Insurance Company Limited and United India Insurance Company Limited are on strike mainly for wage revision.
About 40 thousand employees of four government non-life insurance companies (PSU Insurance companies) of the country are on strike today to fulfill the demand of salary revision. A leader of All India Insurance Employees Association (AIIEA) has given this information.
G Anand, general secretary of South Zone AIIEA, said that about 40,000 or about 80 per cent of the employees of the four state-owned general insurance companies – National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. They are going on strike for wage revision. This amendment was to be done in 2017.
According to him, 16 employees unions and unions representing officers and clerks will participate in this strike. However, the General Insurance Employees All India Association (GIEAIA), a leading union in the government-owned general insurance sector, is not participating in the strike.
In August 2017, the salary of the employees of the four companies was to be revised. Employees of public sector general insurance companies are quite dissatisfied with the completion of pay revision in banking and Life Insurance Corporation of India (LIC).
On its part, the government has announced its intention to privatize one of the following companies – National Insurance, Oriental Insurance and United India.
Earlier, employees of Public Sector General Insurance (PSGI) companies had observed a nationwide one-day strike to protest against the privatization of insurance companies. He went on strike in protest against The General Insurance Business (Nationalisation) Amendment Bill, 2021.
He said that the central government will have to hold more than 51 percent of the equity capital in the government insurance company. The employees had said that one should not forget that PSGI companies are present in the first five slots in terms of premium.
